British bookmaker Betfairhave launched a betting application for the iPhone, and become the first company to offer real money gambling in the iPhone App Store.

Apple have in the past been very strict about gambling, only allowing play-for-fun gambling applications. However, after Betfair’s proposol to design an app with strict location and age verification features Apple relaxed their rules.

Betfair went mobile a few years ago with the launch of their Java-based betting application, letting people bet mobile anywhere at anytime. The Java application however is not compatibile with the iPhone. And with iPhones becoming increasingly popular, this news brings a sigh of relief to online bookmakers and we expect it to have some exciting knock-on effects for the mobile betting industry.